XForceGlobal

XForceGlobal Wizard

X Force Global Analysis: The S&P500 index has been showing a clear bull trend for the past few weeks. However, as the "V" shape recovery takes place, we witness a weakened bullish momentum, and a probability for a corrective trend to take place. In this analysis, we explore the bullish and bearish technicals to determine the probability of a correction. ...

XForceGlobal Wizard

X Force Global Analysis: We have been approaching Bitcoin from a cautiously bearish perspective, as it has been overextended and overbought for days. After a 20% correction from the local high, we reassess its technicals - specifically through divergences - to determine Bitcoin's probable cases. Explanations of Recent Historical Divergences Case 1. Hidden...

XForceGlobal Wizard

X Force Global Analysis: Bitcoin has shown weakened bullish momentum, after having tested the 10K resistance. In this analysis, we explore the probabilities of having topped out. Analysis - The first thing we notice is the huge bearish divergence that has formed on the 4H chart - We see a textbook bearish divergence, with higher highs on the price, and...

XForceGlobal Wizard

X Force Global Analysis: In this analysis, we explore the evidence behind Gold's bullish and bearish scenarios. Bullish Evidence - We start with the chart on the left hand side, showing Gold's price movement on the 4H - We see a typical bullish pennant pattern, in which we consolidate within a triangle after an uptrend - Within the pennant, we can also...

XForceGlobal Wizard

X Force Global Analysis: In this analysis, we explore Bitcoin's historic price movements within the descending parallel channel, the most probable wave counts, and the bullish and bearish evidence behind bitcoin's current trend. Analysis - Bitcoin has been trading within a descending parallel channel for the past year - Depending on how we connect the...

XForceGlobal Wizard

X Force Global Analysis: We are seeing an interesting fractal that seems to be playing out similar to the rise we had in Bitcoin's best 1D run back in November of 2019. It was followed by an extremely similar pattern that was showing the same form of Elliot Waves; furthermore, is also showing the same bullish pennant that everyone thought was going to play...

XForceGlobal Wizard

X Force Global Analysis: - Bitcoin is forming a textbook bearish divergence on the daily - Prices are creating higher highs, while the Relative Strength Index (RSI) is creating lower highis - It's also important to note that the RSI is creating lower highs in an overbought territory - The Moving Average Convergence Divergence (MACD) also shows decreasing...

XForceGlobal Wizard

X Force Global Analysis: In this analysis, we explore the technicals of Netflix (NFLX), the world's leading internet entertainment service, and arguably one of the biggest beneficiaries of the Corona Virus (Covid-19). Analysis - First of all, unlike most other blue chip stocks, we see a steady uptrend - Counting Elliott Waves, we can count an Impulse Wave...

XForceGlobal Wizard

X Force Global Analysis: In this analysis, we take a purely technical approach in analyzing Mastercard (MA) Analysis - The first thing we notice is the fact that Mastercard is in the process of a "V" shape recovery, just as many other blue chip stocks - We have broken through and closed above two major descending trend line resistances - There is a price...

XForceGlobal Wizard

X Force Global Analysis: Fibonacci fans are sets of trendlines drawn from a peak through a set of points dictated by Fibonacci retracements. To create them, a trader draws a trendline off which to base the fan, usually covering the low and high prices of a security over a given period of time. Fibonacci Fan lines can be drawn to identify potential support or...

XForceGlobal Wizard

X Force Global Analysis: Bitcoin is currently consolidating within a triangle pattern, creating lower highs and higher lows. While this may appear to be a bullish pattern on the surface, it's important that we learn from our past mistakes and ensure that we interpret the market conditions as accurately as possible. Analysis - On the left hand side, we have...

XForceGlobal Wizard

X Force Global Analysis: Bitcoin has been demonstrating extremely volatile price movements, confusing both bulls and bears alike. In this analysis, we analyze both the bullish and bearish cases mainly through the Elliott Wave theory, substantiating each scenario with other indicators and previous analyses. Bullish Scenario - In our bullish scenario, the...

XForceGlobal Wizard

X Force Global Analysis: Gold has shown a double top pattern on the daily, and has been correcting since. In this analysis, we look at the significant resistance zones for Gold, and its bearish case. Analysis - The first thing to note is the descending megaphone pattern for gold on the hourly - We are creating lower lows and lower highs, with Elliott...

XForceGlobal Wizard

X Force Global Analysis: While the evidence for a bearish case is overwhelming as well as the probabilities for a mid-term bearish move, as technical traders, we believe that it's important to explore both sides of the market. In this analysis, we look at the evidence that substantiate a bullish case. Analysis - The first thing that we spot is the...

XForceGlobal Wizard

X Force Global Analysis: All markets is currently showing weakness in both technical and fundamental reasonings. With no clear signs of recovery for the COVID-19 situation, we may see an uprise of technical traders taking advantage of the situation to drive price down even further trying to keep the technical aspects on a larger picture in tact. With that being...

XForceGlobal Wizard

X Force Global Analysis: We are witnessing three interesting factors that may contribute to the drop before/during the halving event and why the price may be already factored in. 1. We are in extremely overbought territories as witnessed by our envelope indicator (a very highly effective indicator to show overbought/oversold conditions). The overbought...

XForceGlobal Wizard

X Force Global Analysis: We would like to introduce to everyone a very simple indicator that has time after time been proven to show overbought and oversold situations - the "Envelope" indicator. Simply put, envelopes are technical indicators that are typically plotted over a price chart with upper and lower bounds. The most common example of an envelope is a...

XForceGlobal Wizard

X FORCE GLOBAL ANALYSIS: The recent bullish move from 3.5k to 9.4k has gotten crypto bulls extremely excited. Based on the recent bullish trend, many traders are coming up with unrealistic targets, without acknowledging the fact that such move is unsustainable. In this analysis, we look at realistic price targets and possible price movements for Bitcoin, based...